EURUSD Forecast

The EURUSD made another volatile but indecisive movement yesterday. Price attempted to push higher, topped at 1.4216 but found a good resistance around the upper line of the symmetrical triangle as you can see on my h4 chart below and traded lower earlier today in Asian session hit 1.4142. The bias remains neutral in nearest term as long as price moves inside the triangle but after hit the upper line price may attempt to the downside testing the lower line of the triangle and 1.4080 support area. We need a clear break from the triangle to see clearer direction. A clear break below the triangle could trigger further bearish pressure retesting 1.4000 region while a clear break above the triangle and 1.4200 resistance area could trigger further bullish pressure testing 1.4281 which could open the door for further bullish momentum testing the upper line of the daily chart descending triangle (red line).

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